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On this episode of Stock Movers:
Shares of Novo Nordisk (NVO) soared in premarket trading after the company won approval to sell a pill version of its blockbuster obesity shot Wegovy in the US, a crucial step in its effort to defend its market share from rival Eli Lilly & Co. Novo will start selling the pill in the US in early January, the company said in a statement Monday. It is approved to help people lose weight or maintain previous weight loss over the long term.
Shares of naval shipmaker Huntington Ingalls (HII) rallied ahead of the US market open after President Trump announced the Navy will build a new “Trump-class” battleship as part of the White House push to modernize a fleet that’s been hobbled by years of cost overruns and delays.
Shares of Warner Bros. Discovery (WBD) edged higher in the early session as Larry Ellison is throwing his personal fortune behind Paramount Skydance Corp.’s bid for WBD, aiming to give his son’s company an advantage in a fiercely contested takeover battle with Netflix Inc.
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Novo Soars on Obesity Pill Approval; Huntington Ingalls Rallies; Warner Bros